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Managing Your Property

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Abib Ndiaye
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First time renting out an apartment unit

Abib Ndiaye
Posted Oct 4 2022, 18:25

Hi All,

I'm a new real estate investor with one 4 plex purchased last year. One of my tenants is leaving their unit in a couple of weeks. I'm managing the property by myself and learning in the process of doing this. This will be the first time I'm putting a unit in market and trying to rent it out. I'm looking for your expertise regarding how to go about find a good tenant.

1. Places to advertise the unit such as apps or websites or other means,

2. How to screen tenants and what to look for,

3. How to run a credit score and a background check.

I appreciate your help and advice.

Thank you,

Abib

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Slaiman Atayee
  • Real Estate Agent
  • Washington, D.C.
27
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Slaiman Atayee
  • Real Estate Agent
  • Washington, D.C.
Replied Oct 4 2022, 18:46

Congrats on your purchase! There is a TON of content on this within these forums - if you spend an hour googling "how to find good tentants bigger pockets" I'm sure you'll find more than enough information.

Here's a BP blog post as an example. 

Also here's another.
 

Good luck!

 

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Oct 5 2022, 05:58
Quote from @Abib Ndiaye:

You know so little (no offense) that it's impossible to answer all your questions. Do yourself a favor and buy "Every Landlord's Legal Guide" by NOLO. Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them. It's updated every year and is the best $40 you'll spend as a Landlord. There is one book for 49 states and a separate book for California.

  • Property Manager Wyoming (#12599)

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Abib Ndiaye
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7
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Abib Ndiaye
Replied Oct 5 2022, 16:50

Thank you so much!